Our Next Meeting Will Be Live, In-Person in Brea, CA
July 8, 2018 at 4:30pm
Sign up to watch it online on our GoToWebinar Subscriptions page
(Our live, in-person meetings, when held, are at the Brea Embassy Suites, 900 E Birch St, Brea, CA 92821)
Videos of our prior meetings are posted on the videos page.
The faithful will gather to discuss all things Forex. We don't generally nail down the agenda until the week before the meeting so please check back often as updates are made when they happen. Larry usually talks about ACD, trades he's taken, and trade setups from our weekly chart readings to show how he chose those trades with entries, stops and exits.
Round One: Larry will bring everyone up to date with how the option trading is going, including showing successes and failures. He will also update where we stand with our Meetup website and which templates we should now be using.
Round Two: Tom will be sharing how his system from the last few months has been working and update us on any tweaks he has made to that system. He has a new currency strength indicator that he thinks is very helpful.
Extra Treat and time permitting: We may have a special guest speaker.
For sure: In-depth insight into forex trading!
After-Meeting Hijinks (a.k.a. "Larry eats a Mud Pie while everyone else eats dinner"): And as always, everyone is invited to join us for dinner and/or snacks nearby at Islands restaurant after the meeting. Join the party and talk to people who are actually making consistent money trading FOREX. Somehow we never seem to run out of things to talk about. See you there!
Our in-person meeting will be broadcast live over the Internet. If you can't attend in person, be sure to sign up on our GoToWebinar Subscriptions page. The meeting agenda will be sent out about a week before the meeting.
ANNOUNCEMENT: DICK SCHMIDT HAS PASSED AWAY
It is with deep sadness that we send word to you that we lost our beloved Dick Schmidt. Dick was a fighter, big on perseverance and patience, but early on the morning of Sept 13th, he lost his 4-year long battle with bone cancer. He was 71.
A quick background on Dick will give you some insight into his singular personality: insurance salesman, cab driver, horse racing handicapper, helped write a handicapping book that still sells on Amazon.com today, found 4X-LA and knew he'd found home. His cab driver's hat still hangs in his trading room to this day as a memento of where he started and how far he’d come.
And some words that suit Dick to a T: witty, fine sense of humor, smart, very talented, capable, intelligent, excellent command of the language, perceptive, erudite, well-read, casual, nonchalant, skilled in so many things, relaxed, easy going, genius, gentleman.
And some comments on and memories of Dick from other members of our club:
"... clear and transparent, very elegant, air of royalty"
"... fearless when it came to pulling the trigger on a trade"
"... ruthless in stopping out a losing trade"
" '... oh well, I got stopped out again'..."
"... gave freely of his knowledge and support"
"... he loved trading, wasn't in the least afraid of it"
"... he loved talking about trading with other traders"
" '... if you just sit in front of the computer the trades will always come by'..."
"... he had trading psychology down pat"
"... he knew the ebb and flow of trading... wave washes in ... wave washes out..."
"... his energy was such that it smoothed out the rough spots in our meetings"
"... he put the Asian session on the map … he was responsible for bringing Active Trading to us"
We, too, happily remember what we call our famous "Dick-isms", moments and comments that were unique to Dick (Dick was nothing if not colorful, to say the least). To Dick, a big move wasn't just a big move. It was big drama, "price came thundering down" or "price shot up to the moon", or "God Almighty Dog! That ought to get it done!" And if he saw that one of his trades was going the wrong way, he'd kill it immediately and say "… it's better to cut it off now than to end up gnawing off my fingernails up to my elbow hoping it'll turn around!" And if he was pondering getting into a trade, he'd say "… sometimes you have to turn your head a little and hold your mouth just so in order to see the setup".
If you were ever fortunate enough to listen to a Dick broadcast, we're pretty sure the words "effortless", "natural", "intuitive", and "genius" came drifting through your thoughts as he simply and unflinchingly pulled the trigger on each trade. These broadcasts we not just Dick taking trades. No, they were "clinics" on trader psychology. Dick was a great teacher, repeatedly demonstrating emotional stability, cruising through sessions with confidence and poise, getting hit time after time, but maintaining an even-keel through it all. He proved it week after week: stick to your trading plan, don't veer from it because of a bad trade or two (or three or four!).
It was extraordinary, like watching water roll off a duck's back. Patience and consistency for Dick were the key, those two, and of course, mercilessly killing his trades if they went even 5 pips against him. He truly knew that nothing works all the time and was happy to dip his toe in the water, knowing that if it didn't work this time then it wasn't ready and he'd just wait until it was. And we all saw it time and time again: he’d dip in, cut it off, dip in, cut it off, dip in … He kept coming back, no change in his demeanor, no frustration, no revenge. He'd just say "...enh, that's trading" and in a few minutes he'd make it all back plus 20 more.
What did he know that we don't? What could he see that we can't?
Dick was fully centered on trading, a natural calculated-risk taker. It was easy to see that this giant of a gentle man was doing something that he loved. He was in his element and relished every second of it - teaching, sharing, trading, and especially talking trading with trading buddies over dinner after a meeting. And in all these years he never once hesitated to show us how he did it - this magician wasn't afraid to show us his secrets. As ill as he was in his last year, he gave free classes in his home to anyone who would come. Generosity was in abundance, as were patience and kindness, qualities everyone knew well who knew Dick.
One of our members called him "Larry's punching bag". But his feathers were never ruffled nor his hackles ever raised because he knew all comments between him and Larry were purely light-hearted jest. And besides, he could easily and effortless crack wise to render Larry completely speechless - not an easy thing to do. And during all that, he was happy to share the limelight, a gracious gentleman.
It was a supreme treat to have known him and we were blessed to have him as long as we did. We lost a giant of a man today who leaves an even bigger hole in our hearts. No one will ever fill the void left there by his passing. He can never be replaced because there simply is no one else like him. Our hearts are no longer the same for having had Dick in them.
So we leave you with this: his Skype profile tag line...
"The race is not always to the swift nor the battle to the strong, but that's the way to bet."
~ Damon Runyon
God's Speed, Dick. We'll see you when our trades are closed out too.
Risk Disclosure: NFA (National Future Association) Trading Spot/OTC Foreign currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in Foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the Foreign exchange markets. You must be aware of the risks and be willing to accept them in order to invest in the Forex markets. No "safe" trading system has ever been devised, and no one can guarantee profits or freedom from loss. Unique experiences and past performances do not guarantee future results! Nothing in our live presentations, training courses, website, or other materials shall be deemed a solicitation or an offer to Buy/Sell currencies in Spot/OTC Forex Markets. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed or presented in any manner. Also, the past performance of any trading methodology is not necessarily indicative of futures results. Foreign currencies trading involves high risk and you can lose a lot of money.
CFTC RULE 4.41: (CFTC = Commodities Futures Trading Commission): HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN OR DISCUSSED HERE, TRAINING MATERIAL, PROMOTIONAL MATERIAL OR ANY RELATED SERVICES. OUR COURSES, PRODUCTS AND SERVICES SHOULD BE USED AS LEARNING AIDS ONLY AND SHOULD NOT BE USED TO INVEST REAL MONEY. IF YOU DECIDE TO INVEST REAL MONEY, ALL TRADING DECISIONS SHOULD BE YOUR OWN AND ARE SOLELY AT YOUR OWN RISK.
Round Three: Tom will be sharing update on some indicators he has recently found and I hope to get him to trade on the strategy tester with the 1 hour charts .
Extra Treat: Surprise, Surprise after trying on and off for 10 years (more off than on), Deb has worked out how to get email alerts from MT4 to actually work and she has offered to show us how to set that up if we buy her dinner ["but no dessert!" said Deb].Extra Goodies: A number of people asked us to provide copies of our most advanced templates along with all the required indicators to set them up. Each indicator has the correct settings already programmed in. This is all on our website, but if you want the whole thing downloaded onto a USB drive, we'll have USB drives available at the meeting for our cost.